The global market for cubic boron nitrates is projected to attain a valuation of USD 1,021.2 million by 2025, with an anticipated compound annual growth rate (CAGR) of 7.8%, ultimately reaching USD 2,164.3 million by 2035.
Cubic boron nitride (CBN) ranks as one of the hardest materials, second only to diamond. The demand for CBN has increased significantly due to its applications in metalworking and high-precision manufacturing. CBN is produced under conditions of elevated pressure and temperature, establishing itself as an essential component in various industrial processes, particularly in the machining of hardened steels and super alloys.
Cubic boron nitrates (CBNs) serve as a widely utilized abrasive material. Ranking as the second-hardest substance after diamonds, CBNs exhibit exceptional thermal, hardness, and chemical stability. Their mechanical strength stands out as a particularly significant characteristic. CBNs are often incorporated into the tool bits of cutting instruments and find applications in both mechanical and electronic fields.
The anticipated increase in demand for cutting operations is likely to stimulate growth in the global cubic boron nitrates market throughout the forecast period. CBNs possess a robust bonding structure and are effective under both pressure and temperature conditions, which are frequently utilized in cutting processes. These advantages are projected to contribute to market growth during the forecast timeframe.
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“Rapidly expanding automotive, construction, and electronics industries worldwide is expected to boost the demand for cubic boron nitrates. The chemical compound is widely employed in nanotechnology, which is projected to accelerate market expansion. Moreover, growing demand for water-resistance pipes and razor blades is anticipated to propel market growth,” says a Fact.MR analyst
Competitive Landscape
Key players in the cubic boron nitrates market continue pursuing marketing methods such as investments, collaborations, technological innovations, R&D activities, and acquisitions to expand and maintain their overseas footprint.
· In December 2021, AIXTRON successfully developed, constructed, and installed a sophisticated industrial-grade reactor for graphene and cubic boron nitride, capable of producing 200 mm epi-wafers. This advanced chemical vapor deposition (CVD) tool was created as part of the GIMMIK research initiative, which aims to assess the production of graphene layers in industrial environments, identify vulnerabilities, and suggest strategies to eliminate sources of error. The project also involves testing material configurations and the integration of graphene features into electrical systems. Concurrently, new techniques for the large-area, contact-free characterization of graphene will be established.
· In September 2021, WIKUS-Sägenfabrik broadened its product offerings by introducing CUBOGRIT® band saw blades that are coated with cubic boron nitride (CBN). This innovation marks the first time users will have access to CBN-coated band saw blade technology, enabling them to efficiently cut through 3D hard alloys and hardened ferrous materials with hardness ratings of up to 70 HRC. WIKUS showcased these new band saw blades at EMO Hanover, the leading global trade fair for metalworking.
· In August 2021, researchers at Cornell University utilized ultrathin graphene and cubic boron nitride to develop a miniature magnetic field sensor that operates effectively across a broader temperature range than previous sensors. This sensor is capable of detecting minute changes in magnetic fields that would typically be obscured in a larger magnetic environment. Nowack's laboratory specializes in employing scanning probes for magnetic imaging, with the superconducting quantum interference device (SQUID) being a preferred tool due to its efficiency at low temperatures and in moderate magnetic fields.
Old Source: https://www.globenewswire.com/news-release/2023/01/12/2588196/0/en/potential-of-cubic-boron-nitrate-to-substitute-diamonds-will-accelerate-their-demand-fact-mr-report.html
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